LA Braces For $1 Billion Staples Center Development

Covering six blocks, the mixed-use plan will include theaters, restaurants, and a massive hotel within walking distance of the Convention Center. City officials have yet to include financial support.

Hoping to cash in on the lucrative convention trade, Los Angeles may finally have the one piece it lacks: a major downtown hotel. Under Philip Anschutz's new plan, six unused blocks between the business district and the Convention Center would be transformed into a 4-million-square-foot development anchored by a signature 55 story, 1,200 room hotel. Despite predictions of up to 20,000 new jobs, the city and Mayor Hahn are waiting for more information before offering a deal to the developer.

Thanks to Jeffrey Goodman

Full Story: Developers Set to Start Staples Center Project

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